Index Options- Stock Market Tips Today by Ripples Advisory – 22nd July 2019

FII & PRO have sold more than 1 Lakh contracts in Index options on last Friday indicating further weakness in the market. Indian markets tumbled last week as Nifty fell sharply more than 300 points from its high of 11707 to make a low of 11399 and finally closed at 11419 down by 1.15% from its previous close. Last week the Index also broke its important support level of 11461, selling was supported by FII & PRO as their have sold more than 188000 contracts in last 2 days suggesting further weakness in the market up to 11100 levels.

Cash benchmark Index Small cap also fell sharply more than 250 points from its high of 6096 to make a low of 5844 and finally closed at 5855 down by 3.65% from its previous week close.

Sector Analysis
Last week the market was completely volatile and ended in a negative note. Following the market’s sentiment major and minor sector also ended in the red.

The companies which have outperformed in a volatile market were Filatex India (Textiles and Apparel) by 31.40%, Windsor Machines (Industrial Manufacturing) by 17.83%.

The US 10 Year T-Note is trading at 127.45. The Bond has crucial support at 117.42 made on 5th Nov 2018. The US Dollar Index is trading at 96.863.

Open Interest Analysis
FII & PRO are the major players in the Derivatives segment and have an upper hand in the market and their position provides direction to the market. In the July month expiry, they have started with the position of (-47429) contracts in Index option (both FII & PRO combined) when Nifty spot was trading at 11842. As on last trading day, they have a net position of (-248274). Thus they have sold 200845 contracts in the current July expiry.

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